Sandisk stock was back on the rise Monday after two Wall Street firms hiked their forecasts for the memory supplier. Mizuho Securities reiterated an Outperform rating on Sandisk stock and lifted its price target to $2,200 from $1,825 in a research note Sunday. BofA Securities followed suit Monday, maintaining a Buy rating and raising its price target to $2,100 from $1,550.
Sandisk stock was back on the rise Monday after two Wall Street firms hiked their forecasts for the memory supplier. Mizuho Securities reiterated an Outperform rating on Sandisk stock and lifted its price target to $2,200 from $1,825 in a research note Sunday. BofA Securities followed suit Monday, maintaining a Buy rating and raising its price target to $2,100 from $1,550.
Amazon said on Monday it has signed a multi-billion-dollar deal with specialty glass maker Corning aimed at boosting U.S. production of optical fiber and connectivity products that are used in data centers. Amazon, however, did not disclose any further financial details on the partnership. Shares of Corning rose about 7% in early trading, as the partnership came as a fresh boost to the compan...
Amazon said on Monday it has signed a multi-billion-dollar deal with specialty glass maker Corning aimed at boosting U.S. production of optical fiber and connectivity products that are used in data centers. Amazon, however, did not disclose any further financial details on the partnership. Shares of Corning rose about 7% in early trading, as the partnership came as a fresh boost to the company's fast-growing fiber optics unit, at a time when weak consumer electronics demand has weighed on the segment that makes Gorilla glass.
OpenAI is preparing the biggest overhaul of ChatGPT since its launch kicked off the AI boom, as the $850 billion group hunts for new engines of growth ahead of a planned listing this year. The company intends to transform the chatbot into a “superapp” that combines coding tools and AI agents, adding products that executives believe will generate more revenue. The changes are part of a broader reor...
OpenAI is preparing the biggest overhaul of ChatGPT since its launch kicked off the AI boom, as the $850 billion group hunts for new engines of growth ahead of a planned listing this year. The company intends to transform the chatbot into a “superapp” that combines coding tools and AI agents, adding products that executives believe will generate more revenue. The changes are part of a broader reorganization at OpenAI as the San Francisco-based company shifts resources into trying to win lucrative business customers and compete more fiercely with rival Anthropic, according to more than a dozen current and former employees. Read full article Comments
Key Events This Week: All Eyes On The First CPI Print Over 4% In 3 Years Before we look at the Fed, let's take another quick look at the rollercoaster of the past trading session: a hawkish Fed repricing after the payrolls report triggered a sharp US equity sell-off on Friday with the S&P 500 falling -2.64% (2.59% on the week), its worst day of the year so far, snapping a run of nine consecutive w...
Key Events This Week: All Eyes On The First CPI Print Over 4% In 3 Years Before we look at the Fed, let's take another quick look at the rollercoaster of the past trading session: a hawkish Fed repricing after the payrolls report triggered a sharp US equity sell-off on Friday with the S&P 500 falling -2.64% (2.59% on the week), its worst day of the year so far, snapping a run of nine consecutive weekly gains. Tech led the declines, not helped by Broadcom’s softer earnings earlier in the week. The NASDAQ dropped -4.18% on Friday (4.68% on the week), while the Philadelphia semiconductor index plunged -10.26% - its worst day since March 2020, and dubbed the " Red Sox." All of this comes as tensions in the Middle East are building again with renewed strikes between Iran and Israel, despite what should be the 61st day of a truce or ceasefire. Iran targeted Israel with a missile attack yesterday after an Israeli strike in Beirut, while Israel’s military has responded with strikes against targets in Iran overnight. The IRGC warned yesterday evening that its actions would mark "a full week of continuous strikes", but there are also signs that the sides are looking to avoid a full escalation, with Axios reporting Israel strikes were “relatively limited” in scope and Iranian state media denying that it launched a strike towards a US airbase in Saudi Arabia after a missile alert there. The de-escalatory tone appears particularly evident from the US side, with Trump reportedly urging Israel not to strike back earlier last night, telling Axios that "The Iranian strikes didn't hurt anybody. Hopefully Israel is not going to retaliate.” This and the wider quotes from Mr Trump sound like a President who really doesn't want this war to escalate any further and is trying to find all ways to avoid it. Still, the events have further complicated the chances of an imminent deal. The key sticking points to a deal remain the release of Iran’s frozen assets, its stock of highly enriched uran...
JHVEPhoto/iStock Editorial via Getty Images Marvell: AI growth prospects are going on a blistering run Marvell Technology, Inc. ( MRVL ) has really earned my respect as the market sends the stock on a rampaging run that has outperformed chip designer peers in the past few months. And I think the upside is truly driven markedly by its extensive networking specialization, even though it also has a v...
JHVEPhoto/iStock Editorial via Getty Images Marvell: AI growth prospects are going on a blistering run Marvell Technology, Inc. ( MRVL ) has really earned my respect as the market sends the stock on a rampaging run that has outperformed chip designer peers in the past few months. And I think the upside is truly driven markedly by its extensive networking specialization, even though it also has a very attractive and fast-growing XPU compute opportunity as well. Back in my previous update on MRVL, I urged investors not to rush in because I noticed that the stock had already gone on a surging run that could falter dramatically. The entry point didn't seem opportune for investors who missed earlier buying openings. Despite that, the stock has gone on another advancing phase, breaking through new highs and now touching the $324 level recently before pulling back to close the week at $263. Some profit-taking appears to have embroiled investors who rushed into MRVL last week, but it has yet to show a distinct bearish reversal demonstrating that we could be at the highest peak for MRVL. Yet with its earnings multiple now almost hitting 60x, I believe it is not the time for us to be heroic here or be bogged down by the fear of missing out again if you didn't manage to add MRVL before it went on this blistering run. So Marvell has indeed proved itself to be a highly capable differentiator based on its aggressive maneuvers to do M&As in the past few years, integrating Inphi and also Celestial AI recently. Nvidia CEO Jensen Huang ups the ante on Marvell Nvidia CEO Jensen Huang praises Marvell's prospects. (MarketWatch) It is ramping up its optical portfolio, especially into co-packaged optics, or CPOs, that have now finally entered prime time. We already know that Nvidia ( NVDA ) CEO Jensen Huang has now lauded Marvell to be the next $1 trillion company, upping the ante against Broadcom ( AVGO ), given its confidence in hitting $100 billion in revenue for 2027 and even more for...
Applied Digital (NASDAQ: APLD) roared higher in May's trading, bounding 38% higher across the stretch. Meanwhile, the S&P 500 rose 5.2% in the month, and the Nasdaq Composite jumped 8.4%. Investors were strongly bullish on the artificial intelligence (AI) trade last month, and many big names in the category saw massive valuation gains. Despite a pullback in June's trading, Applied Digital stock is...
Applied Digital (NASDAQ: APLD) roared higher in May's trading, bounding 38% higher across the stretch. Meanwhile, the S&P 500 rose 5.2% in the month, and the Nasdaq Composite jumped 8.4%. Investors were strongly bullish on the artificial intelligence (AI) trade last month, and many big names in the category saw massive valuation gains. Despite a pullback in June's trading, Applied Digital stock is up roughly 66% in 2026. Image source: Getty Images. Continue reading
Ceased Ceasefire? By Bas van Geffen, Senior Market Strategist at Rabobank There has been little progress in the US-Iran peace negotiations over the past weekend. In fact, it feels like the two sides have been walking backwards as the ceasefire is faltering. The US and Iran are still at odds over the frozen Iranian assets, which Iran wants released as part of any deal. But, yesterday, President Tru...
Ceased Ceasefire? By Bas van Geffen, Senior Market Strategist at Rabobank There has been little progress in the US-Iran peace negotiations over the past weekend. In fact, it feels like the two sides have been walking backwards as the ceasefire is faltering. The US and Iran are still at odds over the frozen Iranian assets, which Iran wants released as part of any deal. But, yesterday, President Trump said that he will not unfreeze any amount of Iranian assets, nor lift sanctions, immediately after a deal is closed: “If they behave, if they do a good job, we start talking” about unfreezing these assets, he said. And, if it is up to the US Treasury, there may be few assets left by the time Trump is willing to talk. The Financial Times reports that Treasury Secretary Bessent is considering using the Iranian assets to pay for the rebuilding of Gulf countries that were hit by Iranian attacks. So, we’ve now moved from “the US and Gulf countries help with the reconstruction of Iran” to “Iran pays to rebuild the Gulf countries.” On top of that, new attacks put further pressure on the negotiations, and on the fragile ceasefire that was tacitly extended while negotiations are ongoing. US Central Command reported it took down two Iranian drones that threatened marine traffic near Hormuz, after Iran also fired missiles at Kuwait on Wednesday and at Bahrain on Friday. The US, meanwhile, has struck Iranian radar and surveillance sites. Fighting between Israel and Hezbollah is also still ongoing. Defence Minister Katz said the country’s air force had launched a strike on a command center in one of Beirut’s suburbs, in response to Hezbollah’s continuing attacks on Israel. That’s another red line for Iran, which has already retaliated overnight. This remained limited to a tokenistic firing of five missiles. Nonetheless, it’s the first time since the ceasefire that Iran directly targeted Israel. President Trump called on Netanyahu to refrain from further retaliation. However, this mor...
(RTTNews) - Apartment REITs, Equity Residential (EQR) and AvalonBay Communities, Inc. (AVB) on Monday announced that they have named the executive team that will lead their $69 billion merger of equals, with AvalonBay CEO Benjamin Schall to serve as president and CEO of the combi
(RTTNews) - Apartment REITs, Equity Residential (EQR) and AvalonBay Communities, Inc. (AVB) on Monday announced that they have named the executive team that will lead their $69 billion merger of equals, with AvalonBay CEO Benjamin Schall to serve as president and CEO of the combi
Latam Airlines CEO Roberto Alvo says that high fuel prices could lead to capacity cuts and South American taxes are keeping some travelers out of the skies. Alvo spoke with Bloomberg's Guy Johnson on the sidelines of the IATA 2026 Conference. (Source: Bloomberg)
Latam Airlines CEO Roberto Alvo says that high fuel prices could lead to capacity cuts and South American taxes are keeping some travelers out of the skies. Alvo spoke with Bloomberg's Guy Johnson on the sidelines of the IATA 2026 Conference. (Source: Bloomberg)
Alibaba Group Holding on Monday established a new unit called Token Foundry, consolidating key model-development teams as the Chinese technology giant steps up efforts to commercialise artificial intelligence and align its businesses around a unified AI strategy. The new division brings together Alibaba’s Tongyi Lab and Future Life Lab and will be led directly by CEO Eddie Wu Yongming, according t...
Alibaba Group Holding on Monday established a new unit called Token Foundry, consolidating key model-development teams as the Chinese technology giant steps up efforts to commercialise artificial intelligence and align its businesses around a unified AI strategy. The new division brings together Alibaba’s Tongyi Lab and Future Life Lab and will be led directly by CEO Eddie Wu Yongming, according to people familiar with the matter. Future Life Lab, previously housed within Taobao and Tmall Group,...